The Basics
Parlay betting is all the rage in sports. Simply put, it’s placing two or more wagers on the same game. For example, if you think the New England Patriots will cover the point spread in the AFC championship game, you might place a parlay wager with the +165 payout if they cover the point spread and win the game. Or, if you think the New York Jets will cover the spread in their game against the Buffalo Bills, you could place a parlay wager with the +120 payout if they both cover the spread and the game is won by either team.
Although it’s a popular betting method, parlay betting comes with a few risks. One of which, of course, is the possibility of losing your wager. Another risk comes with the fact that, in some sports, your wager could be affected by the betting lines of other parlay players. You could end up with a pretty sizeable wager for a game that doesn’t end in your favor. Additionally, if you’re betting on the Super Bowl, there’s a chance that it could be postponed or called off due to inclement weather or poor field conditions. This could cause you to lose your wager in a big way if you’re depending on NFL games being scheduled as usual for the big game.
That being said, if you want to try out parlay betting, here’s how you can do it successfully.
Parlay vs Point Betting
Most people who try out parlay betting assume that it’s the same as point betting. This could not be further from the truth. While point betting is about picking the winner of a game, parlay betting is about placing multiple bets on multiple games. In some instances, you could end up with a massive profit from parlay betting, but in others, you could lose a lot of money.
For example, let’s say you think the Arizona Cardinals will cover the spread in their game against the San Francisco 49ers. You also bet $100 on the Cleveland Browns – winners of three in a row – to cover the point spread in their game against the Baltimore Ravens. In this scenario, you’d win $350 if the Browns cover the point spread and the Cardinals lose their game. But if the Browns win the game, you’d lose your entire $350 bet if the Cardinals cover the spread.
This is why it’s important to do your research before deciding to try out parlay betting. Make sure that the games you’re playing in are legitimate and that there aren’t any signs of fraud or manipulation. If you have any doubts, then it might be a good idea to stay away from parlay betting entirely. There are plenty of games that don’t deserve your attention if you want to try out this betting method.
Getting Started
There are essentially two ways to get started with parlay betting. You can either join a bookmaker’s parlay contest, or you can look for individual games that you can bet on. The first option is easier to do, but it means that you’ll have to wait till the end of the contest to find out if you won or lost. The second option is a little more exciting since you’ll be able to bet on the results of a specific game.
For people who want to get into parlay betting, options for the latter appear to be the best way to go. But, even then, it’s important to keep in mind the risks that come with betting on specific games. If you’re looking for a way to increase your winnings, then joining a bookmaker’s contest is the way to go. This way, you’ll be able to test out different betting strategies and get an idea of how they work. You might even learn something new about sports that you didn’t know before.
Parlay betting is one of the more exciting and powerful betting methods available in sports. However, because it is still relatively new, there are many instances where it doesn’t make sense to use it. For instance, if you’re betting on a cup final (soccer), then it might be a good idea to avoid parlay betting since it could get messy if one of the teams you’re backing leaves the final turn and decides to go for an unexpected victory. Additionally, if you’re looking to place a wager on a Championship Game, then you might want to avoid betting on games that are part of a doubleheader. This is because if one of the games is called off due to bad weather or other such occurrences, your wager could be lost because there’s no way to determine which game was canceled and which one was not. This is why it’s important to do your research before getting started with any type of betting, including parlay betting.